So far, 2025 has seen 93 mainboard listings, featuring names such as HDB Financial Services, Tata Capital, Groww, and Lenskart, compared with 76 during the same period in 2024.
Despite this rise in volume, the total funds raised remain almost unchanged at Rs. 1.54 lakh crore versus Rs. 1.53 lakh crore last year. The surge in the number of issues, along with only a marginal increase in total fundraising, highlights softer demand and a higher concentration of small to mid-sized IPOs.
Investor enthusiasm also appears to be cooling. The average oversubscription level has dropped sharply in 2025. With 76 listings in 2024 up to November, the average oversubscription stood at 42 times, but for the 93 listings so far in 2025, it has slipped to 33 times. This reflects a noticeable shift in investor sentiment.
The IPO boom in 2024 was largely fuelled by retail investors chasing quick listing gains. Retail oversubscription averaged 33 times last year but has fallen to 25 times in 2025. This subdued retail participation stems from multiple global and domestic uncertainties, coupled with the overall lacklustre performance of Indian markets this year.
The table below list the top 15 best performers among 2025 IPOs
| Company Name | Issue size (Rs cr) | Issue price (Rs) | Listing date | Listing day returns (%) |
|---|---|---|---|---|
| Highway Infrastructure | 130 | 70 | 12-Aug-25 | 75.5 |
| Urban Company | 1900 | 103 | 17-Sep-25 | 62.2 |
| Aditya Infotech | 1300 | 675 | 05-Aug-25 | 60.6 |
| Quadrant Future Tek | 290 | 290 | 14-Jan-25 | 54.7 |
| LG Electronics India | 11605 | 1140 | 14-Oct-25 | 48.2 |
| Physicswallah | 3480 | 109 | 18-Nov-25 | 44 |
| GNG Gng Electronics | 460 | 237 | 30-Jul-25 | 40.7 |
| Stallion India Fluorochemicals | 199 | 90 | 23-Jan-25 | 40 |
| Jain Resource Recycling | 1250 | 232 | 01-Oct-25 | 37.2 |
| Ellenbarrie Industrial Gases | 853 | 400 | 01-Jul-25 | 35.3 |
| Globe Civil Projects | 119 | 71 | 01-Jul-25 | 33.4 |
| Sri Lotus Developers & Realty | 792 | 150 | 06-Aug-25 | 31.2 |
| Billionbrains Garage Ventures | 6632 | 100 | 12-Nov-25 | 30.9 |
| Rubicon Research | 1378 | 485 | 16-Oct-25 | 29.4 |
| Regaal Resources | 306 | 102 | 20-Aug-25 | 29.1 |
Written by – Manan Gangwar
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The post From Groww To Urban Company: Here Are The IPOs With The Most Listing Day Gains This Year appeared first on Trade Brains.
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